Newfoundland Labrador

Overview In November 2024 Newfoundland Labrador exported C$1.05B and imported C$263M, resulting in a positive trade balance of C$789M. Between November 2023 and November 2024 the exports of Newfoundland Labrador have increased by $50.2M (5.01%) from C$1B to C$1.05B, while imports decreased by C$-112M (-30%) from C$375M to C$263M.

Trade In November 2024, the top exports of Newfoundland Labrador were Crude Petroleum (C$633M), Iron Ore (C$220M), Raw Nickel (C$68.3M), Crustaceans (C$33.5M), and Scrap Iron (C$16.5M). In November 2024 the top imports of Newfoundland Labrador were Refined Petroleum (C$136M), Soybean Oil (C$62.7M), Other Sea Vessels (C$30.5M), Petroleum Gas (C$9.21M), and Sulfates (C$3.28M).

Destinations In November 2024, Newfoundland Labrador exported mostly to United States (C$522M), Netherlands (C$167M), United Kingdom (C$83M), Germany (C$67.1M), and China (C$66.1M), and imported mostly from United States (C$70.5M), Argentina (C$62.7M), China (C$42M), Belgium (C$36M), and Indonesia (C$30.5M).

Growth In November 2024, the increase in Newfoundland Labrador's year-by-year exports was explained primarily by an increase in exports to United States (C$152M or 41.1%), Netherlands (C$44.9M or 36.9%), and Trinidad and Tobago (C$12.8M or 5.17k%), and product exports increase in Crude Petroleum (C$87.1M or 16%), Crustaceans (C$9.02M or 36.8%), and Processed Crustaceans (C$4.75M or 325%). In November 2024, the decrease in Newfoundland Labrador's year-by-year imports was explained primarily by an decrease in imports from Turkey (C$-91.8M or -100%), United States (C$-67.5M or -48.9%), and Germany (C$-45.2M or -97.8%), and product imports decrease in Iron Structures (C$-44.7M or -99.3%), Refined Petroleum (C$-27.3M or -16.7%), and Commodities not elsewhere specified (C$-10.3M or -87.3%).